Short Sale Foreclosure

We need more money than what our house is worth. My realitor suggests a short sale or foreclosure, what is the difference? What will hurt my credit less?

Your agent did not explain that? They both will hurt your credit, so it should not be a factor.
A short sale, the bank will allow you to sell the house at a loss and they can take the hit. If it does not evict them and take him home to sell by auction.
Either way is not good.
Good luck
Talk to your agent, your lawyer or better yet

In fact, a short sale would be the best. A bank does not go through the process of foreclosure because ultimately it will cost them more. My advice is to see what the bank will allow you to sell short. Both will affect your credit, but a foreclosure would be worse. Report Abuse

Hello,
As far as I know the process of selling is a way to stop the foreclosure. But you can find really good information about it at: http://www.shortsalecomplete.com/?utm_source=blog&utm_medium=blog&utm_campaign=shortsalecomplete
Hopefully this will help :-) Report Abuse

We offer a bailout foreclosure. If you want to keep your home, you can contact me as soon as possible if.